$50,000 Bitcoin (BTC): No joke!

Bitcoin, which is trading at $30,300 as we write this article, is not at the top of its game. However, it continues to make a remarkable ascent, discreetly so. How high can it go? $35,000, $50,000, $100,000 or $1 million? Many are predicting an imminent bull run for BTC. And they are totally right to bet on it because the current indicators do not lie.

Bitcoin, a breakthrough that will boost it to $50,000

Only skeptics like Warren Buffett and Peter Schiff continue to denigrate bitcoin these days. Even the crypto’s biggest haters have changed their minds after the asset began a downward spiral to near $15,700 in November, before rebounding to double its November valuation five months later.

Pre-Halving rally ongoing. Possible target for the next months.#Bitcoin pic.twitter.com/iJpOHyv9cn

— Stockmoney Lizards (@StockmoneyL) April 15, 2023

Picking up on the content of this tweet from Stockmoney Lizards, Finbold highlighted the latest sprints made by bitcoin against a backdrop of economic uncertainty. The aforementioned “pre-halving rally” indeed highlights a 320% increase, a situation similar to that experienced by bitcoin in 2020 during which it experienced the discomfort of the $6,000 floor.

Also, it should be noted that BTC has reached a Fibonacci retracement of 38.2% over two periods.

Furthermore, this crypto analyst has argued that bitcoin will reach $49,000 in the near future. Taking into account the historical price trend, this figure presents itself as a “possible target for the next month”.

The same analyst also suggested that :

• The price of BTC will be halved in April or May 2024, as the block reward will occasionally fall to 3.125 ;
• The bullish sentiment of bitcoin would be related to such phenomena.

Bull run and inflation

Some experts argue that the last rise in the price of bitcoin was due to a drop in inflation. Because in such circumstances, world banks opt for monetary easing strategies.

Now, we all know that the FED has not yet abandoned its policy totally centered on systematic increases in its key rate. Strangely, this no longer affects bitcoin. Also, we should note that the banking crises (Signature Bank, Silicon Valley Bank, etc.) and the drop in consumer prices in China have given wings to the crypto queen. Enough to rekindle the flame of crypto-enthusiasts.